Whoever had the over on DraftKings‘ boss Jason Robins and FanDuel chief executive Matt King being given a potential billion dollar windfall by the Supreme Court’s decision to allows sports betting should head to the cashier’s cage.
In a six-to-three decision (Justice Breyer was a partial dissent), Supreme Court Justices struck down a federal law that had banned gambling on sporting events in most states.
The implications of this for state tax revenues, and around arguments for making significant changes to the ways college athletes are compensated (or should be compensated), are huge, but clear winners from this ruling are the online betting companies… or any media company that has any sort of exposure to live streaming sporting events.